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Cenovus Energy Falling Today on Above-Average Volume (CVE)

By Shiri Gupta

Cenovus Energy shares are trading on heavy volume today, having fallen 9.1% to $7.08. Today's volume of 2.2 million shares tops the average 30-day volume of 2.1 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

SmarTrend recommended that its subscribers protect gains by selling shares of Cenovus Energy on January 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $14.16. Since that call, shares of Cenovus Energy have fallen 45.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Cenovus Energyhas traded in a range of $6.88 to $19.28 and are now at $7.04. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.6%.

Keywords: unusual volume cenovus energy

Ticker(s): CVE